New move in Madrid's high street prime. Generali Real Estate, part of Generali Investments, has reached a lease agreement with the perfume chain Primor for one of its most prominent properties in the retail market, located at Calle Preciados, 9, in the capital. This building is part of the Generali Europe Income Holding (GEIH) fund, managed by Generali Real Estate SGR, and is located in one of the most renowned shopping and pedestrian areas in Spain.
The property in Preciados 9, which offers a gross leasable area (GLA) of 2,121 square meters distributed between a basement and five floors, has been recently refurbished, obtaining the LEED Gold certification in recognition of its energy efficiency. In addition, Primor, which will move its activity to its new flagship store in July, adheres to Generali's "green leases", committing to use 100% renewable energy, in line with Generali's environmental sustainability policies.
According to Carlos Becerril, Head of Investments & Asset Management Iberia at Generali Real Estate: “This new commercial agreement that we have just closed with Primor for our building in Preciados, 9 offers a new service in one of the main shopping streets of the capital. Generali Real Estate's goal is to invest in emblematic, environmentally friendly buildings in prime locations with quality tenants. This partnership with Primor represents an important step in that direction and underlines our commitment to sustainable urban revitalization in Madrid".
